Khadi and Village Industries Commission achieves record sales of Rs.1.55 lakh crore in 2023-24

Khadi products break records and surpass all previous figures According to official figures released, Khadi and Village Industries Commission (KVIC) has registered a robust 15.7 percent growth in sales to cross a record Rs.1.55 lakh crore and created a staggering 10.17 lakh new jobs in rural areas during the financial year 2023-24. According to KVIC […] The post Khadi and Village Industries Commission achieves record sales of Rs.1.55 lakh crore in 2023-24 appeared first on PGurus.

Jul 10, 2024 - 09:22
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Khadi and Village Industries Commission achieves record sales of Rs.1.55 lakh crore in 2023-24
Sales of indigenous Khadi and village industry products made by artisans in rural areas have jumped 5-fold in last 10 years

Khadi products break records and surpass all previous figures

According to official figures released, Khadi and Village Industries Commission (KVIC) has registered a robust 15.7 percent growth in sales to cross a record Rs.1.55 lakh crore and created a staggering 10.17 lakh new jobs in rural areas during the financial year 2023-24.

According to KVIC Chairman Manoj Kumar, “In the last 10 financial years of the Modi government, the sales of indigenous Khadi and village industry products made by artisans in rural areas have jumped 5-fold from Rs.31,154.2 crore in the financial year 2013-14 to the highest level of Rs.1,55, 673.12 crore in the financial year 2023-24.”

Kumar added that in the last ten years, major changes and decisions have been taken to increase the production of Khadi and village industries, which are yielding positive results. He further said that these figures are proof that the trust of the people of the country has increased in ‘Make in India,’ ‘Vocal for Local,’ and ‘Swadeshi products.’

PM Modi’s promotion of Khadi on prominent platforms has significantly boosted the sales of Khadi fabrics. His advocacy for Khadi during last year’s G20 Summit hosted in the country garnered global attention towards this traditional fabric.

PM Modi’s endorsement of Khadi has increased people’s confidence in Khadi products. Khadi has become a ‘new status symbol‘ of fashion for the youth. The demand for Khadi and village industry products is increasing rapidly in the market, which is reflected in the production, sales, and employment figures.

Kumar said that surpassing all previous figures, there has been an increase of 400 percent in sales, 314.79 percent in production, and 80.96 percent in new employment generation in 2023-24 compared to the financial year 2013-14.

He said that this remarkable performance of KVIC has made a significant contribution towards realizing the vision of a ‘Developed India‘ by 2047 and making India the third-largest economy in the world.

KVIC Chairman attributed this historic achievement to the inspiration of revered Bapu, the guarantee of Prime Minister Narendra Modi, and the tireless efforts of crores of artisans working in remote villages of the country.

He said that there has also been an unprecedented increase in the production of Khadi fabrics in the last ten years. While the production of Khadi fabrics was Rs.811.08 crores in the financial year 2013-14, it reached Rs. 3,206 crores in the financial year 2023-24 with a jump of 295.28 percent, which is the best performance so far. The production of Khadi fabrics in the financial year 2022-23 was Rs.2915.83 crore.

The demand for Khadi fabrics has also increased rapidly in the last ten financial years. While its sales were only Rs.1,081.04 crores in the financial year 2013-14, it reached Rs.6,496 crores in the financial year 2023-24 with an increase of 500.90 percent. Khadi fabrics worth Rs.5,942.93 crore were sold in the financial year 2022-23.

The main objective of KVIC, which functions under the administrative control of the Ministry of Micro, Small, and Medium Enterprises, is to provide maximum employment opportunities in rural areas.

Kumar also said that the Khadi and Gramodyog Bhavan, New Delhi business has also seen unprecedented growth in the last ten years. While the business here was Rs.51.13 crores in the financial year 2013-14, it increased by 87.23 percent to Rs.95.74 crores in the financial year 2023-24.

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The post Khadi and Village Industries Commission achieves record sales of Rs.1.55 lakh crore in 2023-24 appeared first on PGurus.

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